QUESTION 4 Deferred tax assets arise when the book value of an asset is less than the tax basis asset value or when the book value of a liability is greater than the tax basis liability value. This happens when a company records revenue or gains for tax purposes prior to recording them for accounting purposes or when they record expenses or losses for tax purposes after they are recorded for financial reporting purposes. In certain cases the company may temper the value of this asset. How would that be accomplished in the financial statements and notes